Answers You Should Have

How much does it cost?

There are no enrollment charges. You can sign up with MedLoft for free. There are no annual or monthly charges as well. When you finance patients, we only take a small transaction fee of 5% from patient’s pocket for patient Financing. We also provide Guaranteed payments. You can sign up with MedLoft for Guaranteed payments so that you can focus on your practice while we take care of the payments.

You can sign up with MedLoft Private Health plans for free as well. There are no annual or monthly charges. We take a small transaction fee of 15% from patient’s pocket.

How does it work?

For patient financing, you just need to determine things like the interest you would like to charge, your late fees, your minimum amount for financing etc., after that, everything is pretty much automatic from there. If there is someone that does not pay on time, we will take care of collections for a small fee.

I don't have anything against insurance companies.

That’s great. It means you have figured out the system better than most doctors! We are not telling you to stop accepting insurance, we are just introducing an additional way for you to make recurring money every month without lifting a finger. We are offering a way for you to get patients without a lick of marketing.

How does this make me money?

The first way it makes you money is by essentially turning you into an “insurance” You get paid monthly premiums. You add an additional revenue stream without losing another. You will still run your office like normal, bill like normal etc.

Do you help me with the setup of the software?

We hold your hand as much or as little as you want. When you are successful, we are successful.

How does patient financing work?

You basically are in 100% control of this. You charge the interest you want, you charge the late fees you want, you can even defer payments if you want. When a payment is made, 5% is taken out for fees and you keep the rest. If you are doubtful about a particular patient, you can opt for Guaranteed payments for that patient. We charge a transaction fee of 10% for only that patient.

When do I get paid when I finance a patient?

You get a lump sum every month.

What if a patient does not pay for the patient financing. How do I get that money?

MedLoft removes your financial headaches. When you are not sure about whether or not to finance a patient, you can opt for Guaranteed payments. By opting for Guaranteed payments, you can rely on us in case the patient defaults. Thus you can now finance a patient whom you can not rely upon as well. So you end up getting 90% of the revenue which would have been lost totally, had you not financed that patient.

Is there any contract with this movement/company?

No, there are no contracts, you can cancel at any time. Remember, there is no charge to remain on our patient financing platform or our referral platform.

Why should I lower my prices for services?

(specialists) You don’t actually need to lower your prices. If you feel your prices are competitive, then go ahead and stick with it. We would like you to keep in mind that other specialists can join your region, so if their prices are better than yours, they might be the one that gets the patient. Charge the prices that make you happy, that you can live with. That’s it. Just remember, you are not replacing any revenue streams, you are now adding another one, you will just be busier.

How do I keep track of how many patients I have and how much money I can expect deposited in my account?

Your money is deposited monthly into your account. It is extremely simple to keep track of all your patients. Just select the criteria that you want to see such as patients with late payments etc and a list will show up for you on the same screen.

Cant I do this myself?

You can try but there will be numerous HIPPA violations, credit card processing violations and security/theft issues that a small company just cannot deal with. You will not have logons for your patients, or mobile apps, an intergrated patient relationship manager etc. On top of that, after the number of patients grow, you will not be able to effectivly keep track of patients and their payment status. It really is not worth the headache, Medloft® makes your system more efficient so your staff can be free to do other important tasks.

Do the fees fluctuate when I have more patients?

No, we have made this system very simple, 5% per patient for patient financing.

In Private Health Plans, the transaction fees is 15% for the first 50 patients, For every 50 patients added, we decrease the transaction fees by 1%. Thus for the 51st patient to your 100th patient, the transaction fees will be 14%. Similarly, for your 101st to 150th patients, the transaction fees will be 13% and so on. After you add 250 patients, you will be charged 10% transaction fees from next patient onwards.